#AbuDhabi cancels $3 bln airport terminal contract, sources say | Reuters

, #AbuDhabi cancels $3 bln airport terminal contract, sources say | Reuters
Post CV 100% Free to the UAE!

We are free of charge but before you start please donate $5 to help others! Help us. Make a Difference.

Helping others is the first step in making the world a better place and improving the lives of those who aren’t as lucky as you. But it’s also shown to bring about a wealth of benefits for those who choose to help and might just be the key to happiness! We are helping all over the world.

, #AbuDhabi cancels $3 bln airport terminal contract, sources say | Reuters

Abu Dhabi cancels $3 bln airport terminal contract, sources say | Reuters

Abu Dhabi’s state-owned airport operator has cancelled a contract with a consortium which was building a 10.8 billion dirham ($2.94 billion) terminal at the emirate’s main airport, four sources familiar with the matter told Reuters.

The group, which comprises United Arab Emirates-based Arabtec, Turkey’s TAV Insaat and Athens-based Consolidated Contractors Company (CCC), were awarded the contract in 2012 to build the Midfield Terminal Building at Abu Dhabi International Airport.

One of the sources said state-owned Abu Dhabi Airports cancelled the contract after the group over ran project costs.

Abu Dhabi Airports and TAV Insaat declined comment. Arabtec, which filed for liquidation in January, and CCC representatives could not be reached for comment.

The terminal, which is still under construction and was once scheduled to open in 2017, has been plagued by years of delays. Abu Dhabi Airports in 2019 said that construction of the new terminal was 97.6% complete.

Two sources said Abu Dhabi-headquartered Trojan had been awarded the contract to finish the terminal’s construction.

Trojan did not respond to a request for comment.

The new 700,000 square metre terminal was supposed to support the growth of Abu Dhabi’s Etihad Airways. When the project was launched, the state-owned airline was seeking to build a major transit hub in the UAE capital, but it has restructured and scaled back its ambitions since then.

The contract cancellation also comes amid a deep pandemic-driven recession in the travel industry that is forecast to take years to recover.

0 0 votes
Article Rating
Subscribe
Notify of
guest
0 Comments
Inline Feedbacks
View all comments